There is a technique I forgot to mention the post about creating a Gann Grid from scratch with Metatrader 4 tools. The technique is basically using the grid to find future squarings of price and/or time from the price action contained within the grid.The initial move from the start of the grid went up to 135° of price and went out to just over 180° of time. Do the following:
1) Count out 135 bars and mark it.
2) Count out 180 bars from the high and mark it. The move went over 180° of time by a few bars, but 180 is close enough. The 180 puts time out near 360°.
The initial move defined a later move from beginning to end. It doesn's always work out that way but it's worth marking. The other thing worth noting is the price range the Euro is in. 1.3436 is the 135° from our start price. Move the decimal over on the price a couple of spots on price and you're 2/10 away from 135. So doing bar counts in that 135 area from any high or low will probably show some reaction.
Coming up to current events, I had created a new grid and the same techniques will be applied. Again, a EURUSD 30 min. chart is used.
Beginning a grid from a pivot low at 9/04/07 14:30, price had risen up to 90° of price in just over 45° of time. 56° of time to be precise. So using those numbers of 90° and 56°, price peaked 90° of time later after the Nonfarm Payrolls report from the measured peak. From the vertical lines of 45° and 90°, measure over 56° in time and price peaked at those marks.
3 comments:
Dear Sir,
I still confuse on how to draw this Gann Grid tool in MT4. Maybe u can give a link or maybe you can give me another example on how to draw this Gann Grid :-)
Thanks In Advance
Hello Chad;
Can you explained how you draw the gann Grid please ?
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